Yield Spike Eclipses Earnings Optimism

A rise in bond yields played spoilsport with equity market sentiment ahead of monetary policy reviews by European Central Bank, Bank of Japan, Federal Reserve as well as the Bank of England. Markets also keenly await the GDP and PCE-based inflation data from the U.S.

Wall Street Futures are trading with a negative bias. European benchmarks are trading mostly in the red zone, amidst expectations of a pause by the ECB. Asian stocks mostly moved lower.

Dollar Index edged up amidst the Dollar’s strength. Bond yields eased after a rebound. Demand concerns, especially from Europe dragged crude oil prices lower. Safe haven bids amidst the simmering Middle East conflict aided an uptick in gold prices. Cryptocurrencies recorded a rebound.

Here is a snapshot of the major world markets at this hour.

Stock Indexes:

DJIA (US30) at 32,963.90, down 0.22%
S&P 500 (US500) at 4,165.80, down 0.50%
Germany’s DAX at 14,714.35, down 1.19%
U.K.’s FTSE 100 at 7,378.52, down 0.48%
France’s CAC 40 at 6,877.53, down 0.54%
Euro Stoxx 50 at 4,042.35, down 0.76%
Japan’s Nikkei 225 at 30,601.78, down 2.22%
Australia’s S&P ASX 200 at 6,812.30, down 0.61%
China’s Shanghai Composite at 2,988.30, up 0.48%
Hong Kong’s Hang Seng at 17,035.00, down 0.23%


EUR/USD at 1.0545, down 0.17%
GBP/USD at 1.2090, down 0.15%
USD/JPY at 150.30, up 0.06%
AUD/USD at 0.6316, up 0.13%
USD/CAD at 1.3795, down 0.00%
Dollar Index at 106.70, up 0.16%

Ten-Year Govt Bond Yields:

U.S. at 4.950%, down 0.12%
Germany at 2.8785%, down 0.29%
France at 3.507%, down 0.37%
U.K. at 4.6565%, up 0.94%
Japan at 0.876%, down 1.19%


Brent Oil Futures (Dec) at $89.30, down 0.92%.
Crude Oil WTI Futures (Dec) at $84.44, down 1.11%.
Gold Futures (Dec) at $2,000.35, up 0.27%.


Bitcoin at $34,480.28, up 1.23%
Ethereum at $1,843.73, up 3.73%
BNB at $225.97, up 0.19%
XRP at $0.56, up 2.08%
Solana (SOL) at $32.19, up 1.52%.

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